Leading money deposit bank (MDB), Heritage Bank Limited is set to pump about N50m into budding businesses by young Nigerians via the Nigerian Young Professionals Forum (NYPF) to drive support the Young Entrepreneurs and Students Grant Scheme (YESGS).
The bank has already set aside about N50m for the scheme.
In a statement, the bank said the grant was awarded to about 35 young entrepreneurs from sectors spanning agriculture, creativity and Information and Communications Technology.
The awards followed a rigorous and transparent review process conducted by an independent body. It noted that tens of thousands entrepreneurs applied for the grant.
According to the Managing Director/Chief Executive Officer of the bank, Mr. Ifie Sekibo who spoke at the YESGrant award ceremony in Lagos, the move would enhance the growth of small businesses in the country.
Represented by the Divisional Head, Retail/SME, Mrs. Ori Ogba, Sekibo stated that the bank supported the initiative because of its belief in Nigerian youths, making up about 80 per cent of the country’s population.
He further expressed assurance over the long-term sustainability of the initiative, saying, “We will not support something that will not stand the test of time.”